The world’s largest regional grouping will meet on Sunday in the northern Chinese port city of Tianjin. The Shanghai Co-operation Organisation may not be quite a household name, but its 10 member states encompass 42 per cent of the global population and about a quarter of the global gross domestic product.
Formed originally in 1996 as the “Shanghai Five” – of China, Russia, Kazakhstan, Kyrgyzstan and Tajikistan – it later became the SCO after it was joined by Uzbekistan, and then by India, Pakistan, Iran and Belarus. It also has two observer states and 14 dialogue partners, including the UAE.
This weekend’s two-day summit will be not only the 25th Council of Heads of State meeting, but also the biggest so far, with Chinese President Xi Jinping welcoming more than 20 leaders, including Russian President Vladimir Putin and Indian Prime Minister Narendra Modi, making his first visit to China in seven years.
On the official agenda are the signing of a joint declaration, approving the SCO’s development strategy until 2035 and the adoption of documents on security and economic co-operation. But overshadowing all that will be the optics. Look at who will be there. And look at who won’t.
“Xi will want to use the summit as an opportunity to showcase what a post-American-led international order begins to look like and that all White House efforts since January to counter China, Iran, Russia, and now India have not had the intended effect,” Eric Olander, editor-in-chief of The China-Global South Project, told Reuters.
I suspect Mr Xi will be far from alone in praising the summit’s significance. Last month, Iranian Foreign Minister Abbas Araghchi said: “The SCO, endowed with vast geopolitical, economic and human resources, is uniquely positioned to be a foundational pillar of the emerging multipolar world order. We must stand resolutely against unilateralism, warmongering and attempts to undermine national sovereignty. Our future lies in co-operation, synergy and mutual trust.” Other Global South leaders are likely to follow suit.
On a geopolitical level, the SCO is useful to its two leading lights
If the spectacle of a gathering of most of the world’s top non-western leaders is all-important – and if it is understood that that is an achievement and an outcome in itself – some will still be scratching their heads and asking: what does the SCO actually do?
First of all, it is important to know that it started as a security organisation; not a mutual defence alliance, like Nato. Originally it was to manage relations between China and the other four “new” countries that came into existence after the break-up of the Soviet Union. In 2001, when the SCO was formally founded, its members signed a convention on fighting terrorism, separatism and extremism, and subsequently opened a Regional Anti-Terrorist Structure in Tashkent.
This is one of the areas in which the SCO has been active. In the real world, as opposed to the glamourised version that appears in TV series, the success of anti-terrorism work is not obvious to the public – because it produces an absence, whether of bombings, cyber-disruptions or armed attacks. At the height of ISIS’s barbarities, I used to wonder if Malaysia, where I live, was lucky not to have suffered a major terrorist incident. Then I was invited to a private briefing by the country’s special branch, and I left all too aware of the many devastating attacks they had thwarted. Perhaps partly for operational reasons, and maybe to avoid scaring the socks off the general populace, they didn’t make their work public. Given the emphasis placed on anti-terrorism by the SCO, it is reasonable to assume that the organisation may have done much to keep its peoples safer, but they just won’t talk about it.
On a geopolitical level, the SCO is useful to its two leading lights.
For Russia, the SCO helps it project influence and provides counter-evidence to the (western) charge that Moscow is increasingly isolated and marginalised. For China, the SCO can help Beijing pursue its objectives by framing them as the desired aims of a wider collective. The SCO – which has also become more and more active in the economic sphere – is a way to make China’s Belt and Road Initiative even more complementary with the Russian-led Eurasian Economic Union. And it also serves as an advantageous forum for Russia and China to manage what could be contested interests, both military and economic, in Central Asia.
At this weekend’s summit, analysts will be closely watching India’s Mr Modi. Clashes between Indian and Chinese forces in the Himalayas five years ago had hardened relations between the two countries. Ties were already beginning to warm, but after this week’s imposition of 50 per cent tariffs on India by the administration of US President Donald Trump, there is much speculation that there could be a deeper strategic recalibration by New Delhi towards Beijing.
Such a course could support the vision Mr Putin presented at last year’s SCO summit in Astana, where he advocated “creating a new Eurasian architecture of co-operation, indivisible security and development … to replace the obsolete Europe-centric and Euro-Atlantic models that gave unilateral advantages only to individual states”.
Critics will complain that many of the SCO’s economic plans – such as a proposed free trade area – remain in the realms of aspiration, and that increasing integration is happening through other means. In a way, that is beside the point. If in Tianjin this Sunday and Monday it appears that “the SCO has become a platform promoting the economic and political integration of the Global South”, as former Kyrgyz prime minister Djoomart Otorbaev wrote this week; if it looks like “the SCO is emerging as a key political and economic group seeking to improve the world order”, then the summit will have succeeded.
For those two days, the optics are (nearly) everything.
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The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
COMPANY%20PROFILE
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
UAE squad
Humaira Tasneem (c), Chamani Senevirathne (vc), Subha Srinivasan, NIsha Ali, Udeni Kuruppuarachchi, Chaya Mughal, Roopa Nagraj, Esha Oza, Ishani Senevirathne, Heena Hotchandani, Keveesha Kumari, Judith Cleetus, Chavi Bhatt, Namita D’Souza.
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
AIR
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Past winners of the Abu Dhabi Grand Prix
2016 Lewis Hamilton (Mercedes-GP)
2015 Nico Rosberg (Mercedes-GP)
2014 Lewis Hamilton (Mercedes-GP)
2013 Sebastian Vettel (Red Bull Racing)
2012 Kimi Raikkonen (Lotus)
2011 Lewis Hamilton (McLaren)
2010 Sebastian Vettel (Red Bull Racing)
2009 Sebastian Vettel (Red Bull Racing)
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
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Company%20Profile
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if you go
The flights
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
The trip
Geodyssey’s (Geodyssey.co.uk) 15-night Nicaragua Odyssey visits the colonial cities of Leon and Granada, lively country villages, the lake island of Ometepe and a stunning array of landscapes, with wildlife, history, creative crafts and more. From Dh18,500 per person, based on two sharing, including transfers and tours but excluding international flights. For more information, visit visitnicaragua.us.
STAY%2C%20DAUGHTER
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In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
KILLING OF QASSEM SULEIMANI
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
The Energy Research Centre
Founded 50 years ago as a nuclear research institute, scientists at the centre believed nuclear would be the “solution for everything”.
Although they still do, they discovered in 1955 that the Netherlands had a lot of natural gas. “We still had the idea that, by 2000, it would all be nuclear,” said Harm Jeeninga, director of business and programme development at the centre.
"In the 1990s, we found out about global warming so we focused on energy savings and tackling the greenhouse gas effect.”
The energy centre’s research focuses on biomass, energy efficiency, the environment, wind and solar, as well as energy engineering and socio-economic research.
The President's Cake
Director: Hasan Hadi
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5